POSTED: Wednesday, June 26, 2013 - 3:00am
UPDATED: Wednesday, June 26, 2013 - 3:04am
New Orleans, La — As part of its continuing effort to assist families and individuals with their housing needs and to prevent future foreclosures, the U.S. Department of Housing and Urban Development (HUD) today announced $218,261 in grants to Louisiana Housing Finance Corporation in Baton Rouge.
Nationally, more than $40 million was awarded to 334 national, regional and local organizations.
As a result of these grants and the additional funding they help leverage, more than 1.6 million households nationwide will have a greater opportunity to find housing, make more informed housing choices or keep their current homes.
“The evidence is clear that housing counseling works,” said HUD Acting Regional Administrator Mark Brezina. “The HUD-approved counseling agencies this funding supports are crucial in helping families manage their money, navigate the homebuying process, avoid foreclosure and secure their financial futures.”
Agencies use their grants to address the full range of families’ housing counseling needs. This includes helping homebuyers navigate the homebuying process; helping households find affordable rental housing; offering foreclosure prevention counseling; offering financial literacy training to individuals and families struggling to repair credit problems that restrict their housing options; assisting homeless persons in finding transitional housing; and counseling senior citizens seeking reverse mortgages or Home Equity Conversion Mortgages (HECM).